The Fredericksburg Area Association of Realtors® (FAAR) is pleased to release the latest housing market statistics to keep our community informed on local trends in home sales, prices, and inventory.
Selina Bryant, FAAR Director, provides the following comments on the current market.
“The market this year kicked off hot. Many buyers rushed to the housing market to get ahead of a more competitive spring and summer market. The month of February seemed busier than the last couple of years due to inventory increases but also new grant availability from Virginia Housing. Buyers are beginning to accept that interest rates may not improve significantly in the near term. As a result, many are choosing to move forward now to get ahead of rising home prices and the possibility of fewer seller concessions once the market reaches its peak season and shifts back toward a more seller-friendly environment.”
